Analyst Andrew Mikitchook from BMO Capital maintained a Buy rating on K92 Mining (KNT – Research Report) and keeping the price target at C$15.00.
Andrew Mikitchook has given his Buy rating due to a combination of factors that highlight K92 Mining’s promising growth trajectory and financial stability. The company reported a record earnings per share of $0.23 for Q4, aligning with expectations, and achieved an all-in sustaining cost of US$837 per ounce, indicating efficient production management. The high-grade ore mined in the latter half of 2024 is expected to continue into the first quarter of 2025, suggesting sustained strong performance.
Additionally, the Stage 3 expansion is on schedule, with the 1.2Mtpa plant set for commissioning in late Q2 2025, which will double throughput upon completion. With 75% of the growth capital already spent or committed and a robust cash position of $140 million at year-end, K92 Mining is well-positioned to finance its expansion without additional debt. The anticipated increase in production to over 200,000 ounces per year will elevate the company to mid-tier producer status, further supporting the Buy recommendation.
In another report released on March 13, RBC Capital also maintained a Buy rating on the stock with a C$14.00 price target.